Council OKs home clean-energy program

STOCKTON - The City Council on Tuesday authorized Stockton to participate in a new residential energy-retrofit financing program.

The Record

STOCKTON - The City Council on Tuesday authorized Stockton to participate in a new residential energy-retrofit financing program.

The voluntary program allows residents to fund improvements such as solar panels, water efficiency upgrades or electric vehicle charging stations by taking out assessments that are paid back over time as an addition to property taxes.

Generally, an assessment stays with the property if it's sold, a city staff report says. Some mortgage providers might require the assessment to be paid off at the point of sale for fear that liens for the energy improvements could take precedence over the lenders in the event of a default. However, the state recently approved a $10 million "loss reserve program" to make sure lenders are reimbursed during a foreclosure, the staff report says.

Ultimately, participation in the new HERO Property Assessed Clean Energy Program should help residents finance improvements and, in the long run, save on their utility bills. Such improvements could also help the city satisfy mandates to reduce its impact on the environment.

A similar program for commercial properties was approved by the City Council last year.

Dozens of cities across the state already participate in HERO, including Tracy. To learn more, and for details how to participate, visit heroprogram.com.